Seoul, Jan 16
The science ministry here said on Thursday it will begin a five-year joint project with the Association of Southeast Asian Nations (ASEAN) worth $30 million this year to foster digital innovation in the ASEAN region.

The Ministry of Science and ICT said it will discuss the details of the project at the two-day ASEAN Digital Ministers Meeting to be held through Friday.

The project is aimed at applying South Korea's advanced digital technologies in ASEAN nations to facilitate their digital transformation and foster economic growth, reports Yonhap news agency.

In detail, the two sides will invest a combined $30 million from their cooperation fund until 2029 to create data and advanced computing infrastructure in the region.

The fund will also be used to develop human resources and artificial intelligence (AI) solutions.

"It is now time for all countries to accelerate their digital transformation to foster sustainable and innovative growth," Second Vice Science Minister Kang Do-hyun said in a press release.

Meanwhile, Kang, who is attending the ongoing event, was set to hold a trilateral meeting with his counterparts from the United States and Japan to discuss cooperation in AI and other sectors, according to the ministry.

South Korea's exports of information and communication technology (ICT) products jumped 24 per cent in December from a year earlier, helped by robust sales of semiconductors.

Outbound shipments of ICT products came to $22.66 billion last month, compared with $18.25 billion a year earlier, the Ministry of Science and ICT said in a press release. The country's ICT imports in December stood at $13.32 billion, resulting in a trade surplus of $9.33 billion in the sector.

By product, semiconductor exports jumped 31.1 per cent on-year to $14.51 billion on high demand for artificial intelligence-related chips.

South Korea to start joint project with ASEAN for digital innovation